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The Bank of China (BOC) announced Thursday a 12 billion yuan (about 1.45 billion US dollars) drop in non-performing loans (NPLs) for the first four months of this year.
According to the five-category loan classification criteria, said a spokesman for the BOC, the NPL ratio of the BOC Group fell to 20.56 percent, or 1.81 percentage points down from the beginning of the year.
He attributed the improvement of asset quality to the bank's adoption of a series of measures in risk control and asset recovery.
The reduction of NPL ratio of both domestic and overseas operations in the first four months had fully demonstrated that related risk control measures had been effective and the overall management of the bank had been enhanced, the spokesman said.
(Xinhua News Agency May 23, 2003
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